Goldman reported bitcoin may become a new currency in the troubled economies
A new report from Goldman Sachs that bitcoin and crypto currency can be used as a form of currency to play a role in the troubled economies.
According to Bloomberg, the report released on Wednesday, was written by Goldman analysts ZachPandl and CharlesHimmelberg, emphasizes the other countries on the dollar means that people need to use a store of value and medium of exchange can be multinational.
In order to meet this demand, the dollar has good performance, but it is not necessarily in all cases is the most ideal money.
The two analysts explained:
For the traditional monetary service supply of the financial system or the country, other encryption currency bitcoin may provide a viable alternative.”
However, according to the report, the encryption currency now may not be suitable for this purpose, especially in the current because of speculation and price fluctuations in the environment.
Pandla and Himmelberg wrote:
“Our vision is a long-term encryption currency returns should be equal to (or slightly below) global real output growth.”
They added that the state issued a crypto currency should be regarded as gold or other metals with similar assets.
Although there is not a real country launched its own encryption currency, but the government has to carry out this work.
It is worth noting that Venezuelan President Maduro announced last month will create their own currency to help its economic development. However, the Venezuelan officials strongly oppose the idea.